Inventory housekeeping

Jan. 1, 2020
A list of inventory control procedures from the University of the Aftermarket can help you improve inventory control, not to mention profitability, for your business.
Here’s a list of inventory control procedures from the University of the Aftermarket that can help you improve inventory control, not to mention profitability, for your business:
  • Inventory your business at least once a year.
  • Check all incoming shipments immediately against packing slips. Report all shortages, surpluses or damaged products.
  • All credits should be logged in a Credit Log Book. Follow up with your supplier on any open credit after 30 days.
  • Stock should be handled properly by placing it in its appropriate spot on the shelf. It should not be thrown, dropped or left on the floor.
  • Employees should never be allowed to bill themselves for merchandise.
  • Do not allow hold tickets. Invoices must be processed on the date written.
  • Account for every invoice every day. Make certain voided invoices are rare and are properly approved by a manager.
  • Insist on good housekeeping. This will contribute substantially to better and easier inventory control.
  • Check all invoices for billing errors.

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